BP is to buy $2.9bn (£1.8bn) worth of oil products from Rosneft the Russian
state-controlled oil and gas giant.

BP is to buy $2.9bn (£1.8bn) worth of oil products from Rosneft the Russian state-controlled oil and gas giant.

Rosneft, in which BP has a near-20pc stake the second largest holding behind the Kremlin, said yesterday in a filing its board had approved a deal to sell up to 3.2m tonnes of oil products to the British based oil major, according to agency reports.

The sale is to include up to 660,000 tonnes of naphtha, used as lighter fluid and in camping stoves, for up to $700m and up to 1.26 million tonnes of fuel oil for up to $940.3m from Tuapse, on the Black Sea coast.

Rosneft also said its board approved a deal to sell up to 1.3m tonnes of gasoil to BP for up to $1.2bn.